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Basic Attention Token [BAT] beats the bear with 57.5% hike on the back of investor hype

While most of the popular cryptocurrencies drowned in the bearish waters, one managed to stay afloat. Basic Attention Token [BAT] has now emerged to be one of the biggest gainers in the bear market, posting a growth of 15.69% in the last 24 hours alone.

At the time of writing, BAT was trading at $0.27 with a market cap of $272 million. BAT has surged by 57.5% in the past 7 days, making it the biggest gainer in the top 50 cryptocurrencies.

The token’s meteoric rise over the last 24 hours started with the price at $0.23. The series of hikes undertaken by coin has now left its trading price close to the $0.27 mark.

1 day price graph | Source: CoinMarketCap

1-day price graph | Source: CoinMarketCap

Last week saw a steady increase in BAT’s price, starting at $0.17 on 15th October to $0.21 on 17th October. The price was at a constant of $0.20-$0.21 from 18th to 20th October, after which it moved up to $0.23.

The token saw a hike on 19th October post the announcement of the new Brave desktop browser, which included features set to increase the utility value of the token.

7 day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

Even as the price remained stable, BAT saw prominent hikes in the volume between 17th-18th October and 19th-20th October. The first spike was from 5.26 million to 26.83 million and then from 5.58 million to 28.05 million.

The comes after the news of BAT being chosen as one of the coins to be reviewed for listing on Coinbase, which may have fueled the upward momentum over the week. Another coin that saw the effect of the bull over the week due to Coinbase was 0x, which saw a growth of 21% over the same time frame.

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Ketaki Dixit

Ketaki Dixit is a Journalism major from Jain University. She has about 1-year experience in the field and is passionate about blockchain technology and the cryptocurrency world.

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